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Journal ArticleDOI

Reflections on CSR: the case of Egypt

03 Feb 2017-Society and Business Review (Emerald Publishing Limited)-Vol. 12, Iss: 1, pp 94-116
TL;DR: In this article, the authors reviewed the corporate social responsibility (CSR) concept in Egypt via six sub-purposes which are the operational definition, activities, corporations' strategic direction, budgeting and drivers for and obstacles against CSR alongside the implications of the January 25th 2011's revolution on the concept.
Abstract: Purpose The purpose of this paper is to review the corporate social responsibility (CSR) concept in Egypt via six sub-purposes which are the operational definition, activities, corporations’ strategic direction, budgeting and drivers for and obstacles against CSR alongside the implications of the January 25th 2011’s revolution on the concept. Design/methodology/approach This research is a perception study adopting a mixed methodology. A sample of 20 corporate managers undertaking CSR activities had been interviewed. Results are analyzed using content analysis and non-parametric z-tests. Findings The research identified the prevalent hands-on definitions of CSR which highlight an identification problem, as well as the leading two activities undertaken that are highly linked to the lack of a corporate strategic direction. Also, it showed that budgeting was a vague undisclosed aspect and further highlighted the drivers for and obstacles against CSR before and in transition post January 25th 2011, revolution. Practical implications This overview serves as a building block for practitioners to identify the CSR build-up in Egypt, to guide further current or future endeavors undertaken. Originality/value This paper provides a genuine contextualized review of CSR in Egypt that had been a reported gap in literature by identifying its operational definition, activities, budgeting, corporations’ strategic direction and drivers for and obstacles against the concept in light of the timeline pre and in-transition post the January 25th 2011 revolution.
Citations
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Journal ArticleDOI
TL;DR: In this paper, the authors examined the relationship between tax avoidance, corporate governance, and corporate social responsibility (CSR) disclosure, and investigated the effect of CSR on stock market returns.

62 citations

Journal ArticleDOI
TL;DR: In this paper, the authors examined the combined impact of environmental, social and governance (ESG) ratings on the market and financial performance of Egyptian companies during the period from 2007 to 2016 and, thereby, determined the influence of the recent political revolutions on the association between ESG practices and corporate performance.
Abstract: This study aims to examine the combined impact of environmental, social and governance (ESG) ratings on the market and financial performance of Egyptian companies during the period from 2007 to 2016 and, thereby, determines the influence of the recent political revolutions –that broke out in the MENA region in early 2011 – on the association between ESG practices and corporate performance.,The present work uses data from the S&P/EGX ESG index, which is the first of its kind in the MENA region. The ESG index is designed to increase the profile of companies listed on the Egyptian Exchange and is expected to boost the level and quality of ESG practices in the Egyptian context. The sample includes the 100 most active Egyptian companies in the Egyptian Stock Exchange as measured by the EGX 100 index in the financial year that ended in 2016. The sample begins in 2007, concurrent with the start of the ESG index, and ends in 2016. The period from 2007 to 2010 represents the pre-revolution period, and the period from 2012 to 2016 is the post-revolution period.,Firms with high ESG ratings are found to enjoy a better financial and market performance. The authors found some evidence that the influence of ESG ratings on financial performance is more obvious after the revolutions than before the revolutions.,This study provides insights regarding the impact of political events on the market in the Middle East region. Despite its increasing economic and political importance, this region still suffers from inadequate attention in the literature. The present work investigates the variances that evolved out of the events that started in early 2011 and the implications of these events on the market. The results of this study have implications for regulators and investors in the Egyptian stock market. The authors believe that the relatively new S&P/EGX ESG index provides a way to enhance ESG ratings in Egypt.,The results of the present study provide insights for policymakers regarding the usefulness of the sustainability indices.,The present results contribute to the growing literature on the economic consequences of ESG ratings, especially in relation to a context characterized by intense political/revolutionary changes. In particular, this study contributes to the few works that have addressed the economic implications of ESG ratings in emerging markets.

32 citations

Journal ArticleDOI
TL;DR: In this article, the authors investigate to what extent (and why) CSR reporting in developing countries reflect instrumental and/or "political CSR" motivations, and the types of organisational legitimacy sought in these circumstances.
Abstract: Purpose: This paper seeks to investigate to what extent (and why) CSR reporting in developing countries reflect instrumental and/or ‘political CSR’ motivations, and the types of organisational legitimacy sought in these circumstances. Design/Methodology/Approach: We adopt a theoretical framework based on the neo-institutional theory, ‘political CSR’ framework and types of organisational legitimacy. This interpretive research is set in the Egyptian context post-2011 revolution. We first carry out a content analysis of web disclosures for 40 banks in 2013 and 2016 to ascertain the nature of CSR activities and any changes over time. Second, we draw on 21 interviews to tease out the implications of the change in societal expectations due to the revolution, and to deepen our understanding of the organisational motivations underlying CSR reporting. Findings: Following the 2011 revolution, the banks’ CSR reporting practices have gradually shifted from a largely instrumental ‘business-case’ perspective towards a more substantive recognition of a wider set of societal challenges consistent with a political CSR perspective. Overall, the maintaining/gaining of legitimacy is gradually bound to the communication of accounts about the multi-faceted ‘socially-valued’ consequences or structures performed by banks. Our interview data shows that participants reflected on the legitimation challenges brought by the revolution and the limits of ‘transactional’ strategies involving traditional constituents; with a preference for pursuing consequential and structural forms of moral legitimacy. Research limitations/implications: This study demonstrates a constructive shift by businesses towards engaging with the new social rules in response to socio-political changes and the need to achieve moral legitimacy. Hence, policy makers and stakeholders could consider engaging with different economic sectors to foster more transparent, accountable, and impactful CSR practices. Originality: We highlight the implications of Scherer and Palazzo’s political CSR approach for accountability and CSR reporting. CSR reporting in some developing countries has typically been seen as peripheral or a symbolic exercise primarily concerned with placating stakeholders and/or promoting shareholders’ interests. We suggest that researchers need to be instead attuned to the possibility of a blend of instrumental and normative motivations.

24 citations

Journal ArticleDOI
TL;DR: In this article, the authors explore the concept of Corporate Social Responsibility (CSR) communication and explore the content analysis of the communications of the ten top-listed companies in the ESG Index in Egypt.
Abstract: The purpose of this paper is to explore the concept of Corporate Social Responsibility (CSR) communication. This paper specifically aims at introspecting into CSR communication patterns in the Egyptian context, where the top ten companies in the Egyptian Stock Exchange–Environmental, Social and Governance Index (EGX-ESG) are sampled.,The paper presents an exploratory study where content analysis of the communications of the ten top-listed companies in the ESG Index in Egypt was analyzed.,The results showed that most companies are using the “stakeholder information” strategy, with the “stakeholder involvement” strategy being the least used.,The results are limited to the use of the content analysis method which is a qualitative methodology. Hence, the results should be generalized with caution.,CSR communication is crucial to the success of companies, regardless of business size, industry or culture. Several aspects of CSR communication, to this day, remain vague for academics and practitioners alike. Therefore, additional insights about the topic should be generated. The present work aids in the understanding of CSR communication as a facet of organizational change and a new trend in emerging markets.,The current exploratory study sheds light on the topic of CSR communication in an important emerging market in transition, namely Egypt. The results of the communication strategies utilized by the top-listed companies can be generalized to other similar contexts.,The majority of the studies conducted on this particular topic took place in the USA and Europe; hence, few insights are provided about the concept in emerging markets.

22 citations

15 May 2017
TL;DR: In this article, the immense support I received from both my parents and my sister, Habiba, has been acknowledged, and I would have not reached where I am without their guidance, understanding and evergrowing encouragement.
Abstract: I would first like to acknowledge the immense support I received from both my parents and my sister, Habiba. I would have not reached where I am without your guidance, understanding and ever-growing encouragement. Thank you is insufficient to express the gratitude my gratitude; I dedicate this to you!

7 citations


Cites background from "Reflections on CSR: the case of Egy..."

  • ...Though Egypt is considered an emergent in the field of CSR and sustainable development (Darrag and Crowther, 2017), the literature section indicates that there are social and environmental efforts in organizations including the banking sector....

    [...]

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Journal ArticleDOI
TL;DR: Although brand theorists suggest that what a person knows about a company can influence perceptions of the company's products, little systematic research has been conducted on these eff ective factors.
Abstract: Although brand theorists suggest that what a person knows about a company (i.e., corporate associations) can influence perceptions of the company's products, little systematic research on these eff...

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